Duke Energy 1Q adjusted profit meets Wall Street expectations

CHARLOTTE, N.C. (AP) — Duke Energy's first-quarter adjusted profit met Wall Street's view, as it dealt with milder winter weather.

The electric utility earned $694 million, or $1.01 per share, for the three months ended March 31. A year earlier the Charlotte, North Carolina-based company earned $864 million, or $1.22 per share.

Earnings, adjusted for one-time gains and costs, were $1.13 per share. The results met the expectations of analysts surveyed by Zacks Investment Research.

Duke said that its performance was also impacted by the sale of the Midwest Generation business in the prior year and increased winter storm costs.

Revenue totaled $5.62 billion.

Duke Energy Corp. said Tuesday that it still foresees full-year earnings in the range of $4.50 to $4.70 per share. Analysts polled by FactSet expect earnings of $4.59 per share.

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